Internet Based Merchant Account – Is It Similar To The Merchant Credit Card Account?
An Internet merchant account is one of the absolute essentials in accepting payment for online transactions. The most important thing to remember about an Internet merchant account is that it is separate from a regular merchant credit card account.
Dont make the mistake of assuming that this service is included in your Internet merchant account with a bank. It is a separate? But necessary? Service. The merchants think the fee is part of the bank fee, but these process is separate from the banks.
Accepting credit card payments through your web site actually requires multiple components. Between a paying customer and your bank account, three layers exist:
Payment Gateway – This is the code that will transmit a customers order to and from an Internet merchant account provider. The payment gateway provides you the ability to accept customer billing information (credit card number, credit card type, expiration date, and payment amount) and the necessary validation steps that must be followed before the credit card is actually billed.
Internet Merchant...
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